Hearst Corporation has signed a contract with French media group Lagardere to take over its international magazine portfolio, including UK publisher Hachette Filipacchi, in a €651m (£574m) deal.
The company announced last night in the US that it had penned an agreement originally struck in January but held up due to local notification requirements in several territories in which it is to take possession of new titles.
Hearst Corporation made a "binding offer" of €651m in January to take over the international press businesses run by Lagardère.
The deal will see Hearst, owner of The National Magazine Company, take control of 102 Lagardère print titles in 15 countries around the world and extensive digital operations, including 50 websites and numerous mobile and tablet apps.
Read more at Press Gazette